v3.26.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2026
Summary of Significant Accounting Policies  
Fair Value Disclosure of Financial Instruments Not Measured at Fair Value

The following table presents the carrying value and fair value of financial instruments that are not carried at fair value on the Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025 ($ in thousands):

 

 

 

March 31, 2026

 

 

December 31, 2025

 

 

Carrying Value

 

 

Fair Value

 

 

Carrying Value

 

 

Fair Value

 

Mortgage notes(1)

 

$

194,850

 

 

$

195,895

 

 

$

194,850

 

 

$

195,568

 

Total

 

$

194,850

 

 

$

195,895

 

 

$

194,850

 

 

$

195,568

 

 

(1)
Carrying value excludes net deferred financing costs.
Property, Plant and Equipment

The Company’s investments in real estate are stated at cost and are generally depreciated on a straight-line basis over the estimated useful lives of the assets as follows:

 

Description

 

Depreciable Life

Building and building improvements

 

10

40 years

Furniture, fixtures and equipment

 

5

10 years

Leasehold improvements

 

Shorter of the lease term or the useful life of the improvement

Lease intangibles

 

Lease term